The financial changes to aged care in Australia since July 2014 have been complex.
SummitCare understands that navigating your way through these rules can be challenging. We know the confusion that can arise for those working through the cost implications and options available to you or to a loved one when entering residential aged care or choosing home care.
SummitCare is always available to support you through this financial journey. We have also met with a range of financial advisors, and can point you in the direction of several that specialise in helping you make the best financial decisions around your care requirements as you age.
- fee structures and affordability of care
- correct structuring of your assets and income
- maximising your Centrelink/Department of Veteran Affairs (DVA) Pension entitlement
- minimising the ongoing cost of aged care, and
- decisions around keeping or selling the family home and your estate planning wishes.
- Whether appropriate care is affordable.
- Options around the refundable accommodation deposit (RAD) and the daily accommodation payment (DAP).
- The difference between daily care fees and the means tested fee – if both are required and how much they will cost.
- Whether the family home should be sold or rented and the consequences of doing so.
- The impact this decision will have on Centrelink &/or Department of Veterans’ Affairs pensions and entitlements.
- What clients need to tell Centrelink and when.
To find out more about residential aged care costs you can also visit the My Aged Care website - http://www.myagedcare.gov.au/fee-estimator/residential-care/form
At SummitCare we recognise this time of your life is an emotional one, and a time when your financial decisions are very important. Our focus and aim at SummitCare is to make your experience a good one and the transition as seamless as possible.
*Please note – our relationship with these advisors is purely for your benefit. SummitCare does not receive any financial compensation should you decide to use their advice, neither do we take responsible for your decisions.